Financial Economics Program
This Master’s program teaches modeling techniques, econometric tools, and advanced coding skills.
full time
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About this Master’s program
The Master’s program in Financial Economics is designed to prepare you for the increasing complexity of financial markets and the demand for modeling techniques and understanding of financial data.
Discover what makes this program truly exceptional
Financial Markets: Focus on financial market techniques, investment strategies, and risk management.
Expert Faculty: Learn from experts in Finance, Economics, Econometrics, and Data Science.
Applied Learning: Combine theory with practical case studies, providing real-world experience.
Career Opportunities: Strong connections with renowned financial institutions for job placements.
Global Network: Diverse cohort of students, fostering international perspectives and networking opportunities.
Meet the Program Directors
Filippo Ippolito
Xavier Freixas
José-Luis Peydró
Ready to make a difference? This program is designed for
Students seeking an interdisciplinary approach that combines Finance and Economics. Here’s why it’s perfect for you:
- You have a background in Business, Economics, or Finance.
- You have a background in Engineering, Mathematics, Physics, or Statistics and want to pursue a career in Finance.
- You are interested in modeling techniques and data analysis.
- You are an analyst or policy-makers at financial or supervisory authority.
- You are an aspiring PhD student.
What skills and knowledge will you learn?
Learn skills in economics and finance such as:
Advanced quantitative knowledge
Modeling techniques
Programming languages
Analyze data
Complex models
Professors
BSE Professors are renowned researchers who are published in leading Economics Journals.
Argimiro Arratia
Vladimir Asriyan
Albert Banal-Estañol
Fernando Broner
Christian Brownlees
Andrea Caggese
Craig Chatfield
Lorenzo Coppi
Rosa Ferrer
Luca Fornaro
Alexander Frug
Fabrizio Germano
Mishel Ghassibe
Javier Gil-Bazo
Albrecht Glitz
Filippo Ippolito
Priit Jeenas
Jack Jewson
Alberto Martin
Martí Mestieri Ferrer
Albert Marcet
Manuel Moreno
Daniel Sánchez Moscona
Eulàlia Nualart
Gabriel Pérez-Quirós
José-Luis Peydró
André B.M. Souza
Victoria Vanasco
Frank Verboven
Program Schedule
In September, students are required to take the following brush up courses: Calculus and Linear Algebra and Probability and Statistics and Introduction to Matlab Programming.
For the rest of the year, students must complete a total of 60 credits. Exceptionally, students may take a maximum of 12 ECTS per term and 15 ECTS in total from electives outside the Financial Economics program offer. Criteria for acceptance into these courses may vary, and approval from both program directors is required.
Term 1 (September-December)
| Course title | Credits | Professor(s) |
|---|---|---|
| Mandatory | ||
| Econometric Methods I | 6 | Geert Mesters, Florens Odendahl |
| Microeconomics I | 6 | Daniel Sánchez Moscona |
| Foundations of Data Science | 6 | Christian Brownlees, Lorenzo Cappello |
Term 2 (January-March)
| Course title | Credits | Professor(s) |
|---|---|---|
| Mandatory | ||
| Asset Pricing | 6 | Javier Gil-Bazo |
| Corporate Finance | 6 | Filippo Ippolito |
| Equity Derivatives and Risk Management | 3 | Manuel Moreno |
| Electives (Choose 6-9 ECTS) | ||
| Financial Econometrics | 6 | Christian Brownlees |
| Macroeconomics I | 6 | Alessandro Ferrari |
| Microeconomics II | 6 | Fabrizio Germano, Alexander Frug |
| Econometric Methods II | 6 | Albrecht Glitz |
| Industrial Organization: Empirical Methods | 6 | Sandro Shelegia, Rosa Ferrer |
| Exchange Rates and Monetary Police | 3 | Fernando Broner |
| International Macroeconomics | 3 | Luca Fornaro |
| Sustainable Finance | 3 | Albert Banal-Estañol |
| Topics in Macrofinance* (Part 1 - 24 hrs) | 6 | Victoria Vanasco, Vladimir Asriyan, Alberto Martin |
Term 3 (April-June)
| Course title | Credits | Professor(s) |
|---|---|---|
| Mandatory | ||
| Master Project | 6 | Filippo Ippolito |
| Fixed Income Securities and Hedging | 3 | Eulàlia Nualart |
| Electives (Choose 9-12 ECTS) | ||
| Mergers and Acquisitions | 3 | Filippo Ippolito |
| Option Pricing and Hedging | 3 | Elisa Alòs |
| Macroeconomics II | 6 | Mishel Ghassibe, Luca Fornaro |
| Topics in Macrofinance* (Part 2 - 16 hrs) | 6 | Andrea Caggese, Priit Jeenas |
| Topics in Finance: Empirical Corporate Finance* | 3 | Javier Gómez Biscarri |
| Advanced Time Series: Nowcasting and Forecasting | 3 | Gabriel Pérez-Quirós |
| Machine Learning for Finance | 3 | Argimiro Arratia |
Master’s Project
Examples of Master's Projects
Class of 2023
- Forecasting Redenomination Risk: Unleashing the Superior Predictor via Machine Learning by Astthor Arnorrson and Frederik Witzeman.
- Early Warning Signal of Bank Distress: Machine Learning Techniques and Shapley Values Analysis by Long Cheng, Filippo Fortugno, and Emmanuela Grasso.
Class of 2022
- Hull-White Calibration for Swaptions using Neural Networks by Hugo Álvarez, Riccardo Sacchi, and Tomás Señaris.
Class of 2021
- Does Macro-Financial Information Matter for Growth at Risk Forecasting? by Lapo Bini and Daniel Mueck.
- The Wisdom of the Crowd: Using ensemble machine learning techniques as an early warning indicator for systemic banking crises by Gabriela Lavagna, Helena Patterson, and Robizon Razmadze.
Master’s degree awarded by UPF
Upon successful completion of the BSE Financial Economics Program, students will receive a Master’s Degree in Economics and Finance awarded by Universitat Pompeu Fabra (UPF).
All Barcelona School of Economics Master’s degrees have been recognized by the Catalan and Spanish Education authorities within the framework of the Bologna Process (in Spanish, “Master Universitario o Master Oficial”).
Placement rate
- Job titles: Analyst, Consultant.
- Industries: Financial Services, Consulting Firms, Technology.
- Higher Education: 21% go on to a PhD or further education.
- Companies: Bank of England, JP Morgan Chase, European Central Bank, ESE Business School, University of Zurich.
Work Internationally
Cities with the most alumni
Testimonials
Diego Medrano
The Master’s in Financial Economics at BSE stood out to me for its unmatched blend of academic rigor and practical relevance. The program goes beyond just teaching finance—it equips you with a versatile toolkit that spans data science, economics, and quantitative analysis. This holistic approach not only sharpened my technical skills but also gave me the confidence to tackle complex financial challenges from multiple angles. The exceptional faculty, international cohort, and focus on cutting-edge research made it an intellectually enriching experience. BSE is more than a degree—it’s a launchpad for anyone aiming to make a meaningful impact in global finance.
Bernardo Ortega
I was looking for a program with a strong emphasis in practical analytical tools, and at the Financial Economics program at BSE I found a great balance between the theoretical concepts and the more advanced statistical and practical tools.
Dean Friedberg
To the world and on a global scale, the intricacies and depth that form our international and domestic economic and financial systems are known to fundamentally shape our everyday lives, futures, and potential to achieve our respective dreams. The Financial Economics Program enabled me to express my aspirations for greater knowledge in these fields through harnessing potential already present yet previously untested and practically pursue my goals whilst enhancing my intellectual curiosity. By obtaining the Master’s Degree in Economics and Finance, I not only acquired an increased ability to perform quantitative/qualitative analysis and better comprehend the juxtaposition of salient subjects which shape our interactions, but also strengthened my firm desire to positively impact society and the progression thereof.
Ozan Akbas
I knew that I wanted to do empirical work in my career, and the Master’s Program in Financial Economics served as a foundation for understanding the necessary econometric tools. This aspect of the Financial Economics Program enabled me to smooth the learning curve when I was involved in various types of finance research
Why study a Master’s at BSE
Ranked by RePEc as one of the best research centers for economics in the world.
Nobel Laureates and other prestigious economists guide the development of BSE Master’s.
Learn from a faculty of well-renowned researchers.
Spend a year in the beautiful and vibrant city of Barcelona.
Admissions and entry requirements
At the Barcelona School of Economics, we look for academic excellence. To submit a strong application, you need to have a high GPA, a well-written statement of purpose, and reference letters that make you stand out. Strong knowledge of Economics and good quantitative skills are also recommended.
Requirements:
- An undergraduate/bachelor/grado/laurea, or equivalent degree from an accredited college or university (for Bologna degrees, a minimum of 180 ECTS are required).
- University diploma in Economics, Finance, Engineering, Mathematics, Statistics, or Business Administration. If you have an academic background in other subjects, you will be considered.
- Your level of English must meet the following requirements: TOEFL score of 90 or above; IELTS Academic Test score of 6.5 or above; Duolingo English Test 120 points.
Candidates will also be evaluated on the following admission criteria:
- Outstanding academic record.
- Quantitative skills.
- Reference letters.
FAQs
Below you will find our most frequently asked questions but do not hesitate to contact the BSE Admissions Team to learn more about our Master’s programs.
Is BSE listed in any rankings?
BSE is listed in rankings such as RePEc and QS. See our Rankings Page for more details.
How many programs can I apply to?
You can apply to up to three programs in your application
How do I apply for tuition funding?
You will automatically be considered for our tuition fee funding
What level of English is required for this Master’s?
You must have an advanced level of English: TOEFL score of 90 or above; IELTS Academic Test score of 6.5 or above; Duolingo English Test 120 points
Is the GRE General Test needed to apply?
The GRE General Test is optional but highly recommended for a strong application
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